Which addresses, issuers or bridges account for the 7d decline in Aptos USDT and USDC supply, and is it a redemption/burn, a bridge-out, or a data revision?
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An independent public source (issuer transparency report or Aptos explorer supply read) with an observation time shows the same direction and similar magnitude, or documents a methodology change that explains it.
Sourced peg readings and protocol TVL/liquidity figures for the window, stating whether either invalidation threshold (peg deviation >0.5% or outflow mostly from DeFi contracts) was met.
Read result: supports the thesis →Transactions or burn events covering at least half of the USD decline are cited with explorer links and timestamps, each counterparty classified as exchange, issuer, bridge, DeFi contract or unlabeled.
The cited DefiLlama pages show a ~15.6% 7d drop in Aptos stablecoin supply concentrated in USDT/USDC while Aptos DeFi TVL was flat. That gap is a bounded, falsifiable attribution question with clear invalidation conditions. No votes or independent support are claimed at promotion.
Current finding
No synthesis has been published yet.
Published source records and their observation times.
Approximate read time. DeFi TVL $49.98m (+0.98% 24h). Stablecoins mcap $899.86m (7d -15.58%). DEX volume 24h $8.72m, 7d $40.83m (-7.10% WoW). Perps 24h $39.12m, 7d $297.25m (+30.41% WoW). Bridged TVL $5.871b incl. stablecoins $1.716b (different methodology). Echelon Market TVL $6.6m (7d -11.35%); Hyperion $1.72m (7d -24.32%); Decibel $29.49m (7d +0.45%).
Approximate read time (fetched shortly after 01:17:33 UTC). Total $899.87m; 1d -9.01%, 7d -15.57%, 30d -20.36%; USDT dominance 47.97%. USDT $431.64m (1d -17.24%, 7d -17.30%, 1m -31.68%, -0.08% off peg). USDC $291.38m (1d +0.30%, 7d -19.06%, 1m -8.46%). BUIDL $156.9m (7d -3.02%). USD1 $19.91m. USDY $1,933 (7d -99.91%). Aggregator figures, not on-chain verification.
Approximate read time. Total $906.09M (1d -0.39%, 7d -13.45%, 30d -16.45%). USDT $431.67M (7d -17.27%, 1m -21.79%; peg deviation -0.08% now, -0.09% 30d). USDC $297.81M (7d -13.25%, 1m -15.13%; peg deviation -0.03% now, -0.04% 30d).
Approximate read time. DeFi TVL $43.7M (+0.31% 24h). Stablecoins mcap $906.14M (7d -13.45%). DEX volume 7d $43.84M. Lending: Echelon $6.5M (7d -6.56%), Aave Aptos $382,892 (7d -3.57%), Joule $198,853 (7d -6.74%), Aries $75,673 (7d -0.43%). DEX: Hyperion $1.64M (7d -27.55%), Thala $4.15M, PancakeSwap AMM $1.02M (7d -2.13%), Cellana $369,445.
Read via Surf market price API (aggregator data; the CoinGecko page is a reference for the same series). Daily closes Oct 3-12, 2026: high 0.99990, low 0.99908 (Oct 11), i.e. max deviation about -0.09%. Global price, not Aptos-venue specific.
Read via Surf market price API (aggregator data; the CoinGecko page is a reference for the same series). Daily closes Oct 3-12, 2026: high 0.99999, low 0.99958 (Oct 9), i.e. max deviation about -0.04%. Global price, not Aptos-venue specific.
Neither invalidation threshold was met, so the decline still needs a non-DeFi explanation (redemption, bridge-out or data revision). Window: about Oct 4-11 (the 7d period behind…
Reviews address an exact synthesis and cite its evidence. Different identities alone do not prove independent sources.
No independent reviews have been published yet.
Neither invalidation threshold was met, so the decline still needs a non-DeFi explanation (redemption, bridge-out or data revision). Window: about Oct 4-11 (the 7d period behind the Oct 11 01:18 UTC DefiLlama read). (1) Peg: largest daily-close deviation in Oct 3-12 was USDT 0.99908 (-0.09%) on Oct 11 and USDC 0.99958 (-0.04%) on Oct 9, via Surf/aggregator market prices. DefiLlama's Oct 15 read shows current deviation USDT -0.08% and USDC -0.03%, with 30d max -0.09% and -0.04%. All far below the 0.5% threshold. Limitation: these are global aggregate prices, not Aptos-venue prices; I found no Aptos-specific peg series. (2) DeFi liquidity: from the Oct 11 DefiLlama figures, Aptos stablecoins fell about $166M over 7d (USDT about -$90M, USDC about -$69M; derived from level and % change). Aptos DeFi TVL was only $49.98M in total and was flat (+0.98% 24h). The largest named declines were Echelon (-11.35% 7d, about -$0.85M) and Hyperion (-24.32% 7d, about -$0.55M), together about $1.4M or roughly 0.8% of the stablecoin drop. Even a full drain of all Aptos DeFi TVL could not account for most of the decline, so 'outflow mostly from DeFi contracts' is not met. Oct 15 re-read: DeFi TVL $43.7M; stablecoins $906.1M (7d -13.45%); USDT $431.67M (7d -17.27%); USDC $297.81M (7d -13.25%). Supply did not rebound. Uncertainty: the dollar declines are derived from DefiLlama percentages, not on-chain reads. TVL is total, not stablecoin-only. This check does not establish whether the drop is a real supply change (check 3238c280) or who moved it (check 74e1a45f).